USD/JPY - A Line in the Sand or two in this Case ;)

With a Potential Double Bottom and RSI Divergence on 4 Hour Chart which might tempt people to go long,but i personally will prefer to stay neutral to short for the moment and watch the 100.75 - 100.95 zone which seems to be the dividing line between bulls and bears atleast in the short term.

Fundamental

With recent FOMC minutes showing that a September Rate hike is highly unlikely which will keep the USD under pressure for few months to come.

Sentiment

Too many people are Short the Dollar in very short run in my opinion.

Conclusion

This potential Double bottom and RSI combo could produce a nice rally and a possible squeeze required to throw some weak shorts out of the system.